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SEB FS is offering third party management company services to Nordic asset managers with Luxembourg-based investment funds. The business in its entirety, including some 20 employees, is as of today transferred to FundRock.

"This move is part of our five year plan and provides a strong foundation to reach our goal of becoming the premier independent Fund Management Company/AIFM in Europe with a full pan-EU offering in the three major fund centres; UK, Ireland and Luxembourg", says Revel Wood, Group CEO of FundRock.

"Clients and their end investors are core and central to our business, and expect more and more from us as their long-term partner in Europe. This further enhances our ability to offer our clients a substantial, well-capitalised solution with deep and broad expertise in all the major European fund jurisdictions, packaged into a robust offering with strong connectivity, now also reaching into the Nordic markets. It further demonstrates our long-term commitment to invest in Fund Management as our core business offering clients solutions across their full fund range." he added.

FundRock is a leading independent third party UCITS Management Company and AIFM (Alternative Investment fund Manager) providing services to Luxembourg, Ireland and UK based funds. The group handles more than 300 funds based in Luxembourg, the UK and Ireland with EUR 45 bn in assets under management, now extending to EUR 60bn with this acquisition.

"We will continue to offer management company services via an exclusive cooperation agreement with FundRock thereby strengthening SEB's customer offering," says Göran Fors, Deputy Head of SEB Investor Services.

"It will also be a good solution for our employees, who are now joining an operation of large scale with offices in the major fund centres that is fully specialised and focused in this service area", continues Göran Fors.